Indian Market:
Nifty was rallied more than 77 points during the day but those gains completely shaved off in late trade due to sell-off in financial, telecom and select healthcare companies' shares.
30-share BSE Sensex closed at 19,981.31, up just 14.38 points over previous closing value, after erasing 236.55 points from day's high of 20,217.86. Even the broader indices ended in red; the BSE Midcap Index was down 0.4% and Smallcap down 0.9%.
France and India on Monday signed a framework contract during President Nicolas Sarkozy's visit to India for the sale of French atomic reactors.
Global Cues:
Most Asian stocks gained on Monday, 6 December 2010, as US stocks on Friday, 3 December 2010, shrugged off weak non-farm payrolls data. The key benchmark indices in China, Hong Kong, Indonesia, Singapore and Taiwan were up by 0.48% to 1.01%. But, the key benchmark indices in Japan and South Korea fell by between 0.19% to 0.3%.
Federal Reserve Chairman Ben Bernanke said US unemployment may take five years to fall to a normal level and that Fed purchases of Treasury securities beyond the $600 billion announced last month are possible.
Euro zone finance ministers meeting on Monday will face pressure to increase the size of a 750 billion euro ($1,006 billion) safety net for crisis-hit members in order to halt contagion in the single currency block.
0 comments:
Post a Comment